Asian stocks mix as investors disrupt US data | WGN 720 radio



Asian stocks on Friday were mixed after a near-dip on Wall Street amid a mess of economic data.

Benchmarks rose in Tokyo, Hong Kong and Seoul, but fell in Shanghai and Sydney.

Concerns over the long-term coronavirus outbreak weigh heavily on emotions across the region.

“Overall, investors have been torn between a very successful buy-dip approach in the past and a growing list of increasingly apparent economic and market risks, which keeps the market mood a bit calm. . “We are doing it,” said Craig Ahram. Oanda said in the commentary.

In Japan, stock prices have been trading at highs for nearly 30 years in anticipation of leadership changes after Prime Minister Yoshihide Suga withdrew his candidacy for the post of LDP prime minister.

Suga’s approval rating was slow amid public dissatisfaction with his administration’s response to the pandemic.

Liberal Democratic Party lawmakers and grassroots members vote on September 29, with parliamentary elections slated for next month.

The Nikkei 225 index in Tokyo rose 0.6% to 30,500.05. Hong Kong’s Hang Seng Index recovered from early week losses, up 0.2% to 24,723.57. Seoul’s KOSPI index rose 0.1% to 3,132.76.

The Shanghai Composite Index fell 0.3% to 3,595.24 and the Sydney S & P / ASX 200 fell 0.8% to 7,399.90.

On Thursday, the S&P 500 and the Dow Jones Industrial Average lost around 0.2% each, while the tech-rich Nasdaq managed to climb 0.1%.

The market rose soon after the surprisingly good retail sales report in August, but then retreated.

As investors move money between different sectors while analyzing the data for clues to the direction of the economy and the Federal Reserve’s reaction, the market was volatile.

The central bank will meet next week, and investors will listen intently to comments on the timing and extent of the reduction in support for the low interest rates that have helped to boost stocks throughout the year.

The S&P 500 lost 6.95 points to 4,473.75. This is 1.4% of the all-time high set on September 2. The Dow Jones fell 63.07 points to 34,751.32 and the Nasdaq rose 20.39 points to 15,181.92.

Small business stocks have also lost part of their raison d’être. The Russell 2000 Index fell 0.1% to 2,232.91.

The Commerce Department reported retail sales growth of 0.7% last month. Economists expected a reduction of 0.85%. We believe the highly contagious delta type of COVID-19 has cut spending as consumers stop shopping.

Wall Street also looked at a disappointing report showing that weekly jobless claims rose more than expected.

Yields on 10-year Treasuries fell from 1.30% Wednesday night to 1.34%.

In other transactions, electronic trading on the New York Mercantile Exchange caused benchmark US crude oil to drop 23 cents to $ 72.38 per barrel. It stayed overnight and came in at $ 72.61 a barrel.

Brent crude, the international price standard, fell 22 cents to $ 75.45 a barrel.

The dollar rose from 109.81 yen to 109.88 yen on Thursday night. The euro fell from $ 1.1761 to $ 1.1773.

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Contributed by AP editors Damian J. Troise and Alex Veiga.


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